Ferguson Wellman Capital Management Inc. Sells 565,998 Shares of NIKE, Inc. $NKE

Key Points

• Ferguson Wellman Capital Management cut its NIKE stake by 93.4%, selling 565,998 shares and retaining 39,677 shares worth approximately $1.63 million. Institutional investors still own 64.25% of NIKE.
• NIKE’s latest quarterly results beat expectations, with EPS of $0.20 versus the $0.11 consensus and revenue of $10.97 billion, though sales declined 1.1% year over year. The company also declared a quarterly dividend of $0.41, representing a 4.1% annualized yield.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $52.94 price target amid concerns about weak China sales, excess inventory, soft consumer demand and a slow product-driven recovery.

Ferguson Wellman Capital Management Inc. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 93.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,677 shares of the footwear maker's stock after selling 565,998 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in NIKE were worth $1,629,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NKE. Cornerstone Financial Management LLC bought a new position in shares of NIKE in the 4th quarter worth $26,000. Sankala Group LLC bought a new stake in NIKE during the fourth quarter valued at about $26,000. J.Safra Asset Management Corp bought a new stake in NIKE during the fourth quarter valued at about $29,000. Kemnay Advisory Services Inc. purchased a new position in NIKE in the fourth quarter valued at about $30,000. Finally, Scarborough Advisors LLC purchased a new position in NIKE in the first quarter valued at about $25,000. Institutional investors own 64.25% of the company's stock.

Insider Transactions at NIKE

In other NIKE news, insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $42.05, for a total transaction of $204,657.35. Following the completion of the sale, the insider directly owned 57,436 shares in the company, valued at approximately $2,415,183.80. The trade was a 7.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Philip Mccartney sold 17,398 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the sale, the executive vice president directly owned 53,133 shares in the company, valued at $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 26,142 shares of company stock valued at $1,169,380. 1.10% of the stock is owned by company insiders.

NIKE Stock Up 2.9%

NKE stock opened at $39.57 on Friday. The firm has a 50 day moving average of $41.91 and a 200 day moving average of $47.11. The stock has a market capitalization of $58.70 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.76 and a beta of 1.11. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. NIKE, Inc. has a 52 week low of $38.17 and a 52 week high of $79.13.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. NIKE's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 EPS. Sell-side analysts forecast that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Tuesday, September 1st. NIKE's dividend payout ratio (DPR) is presently 78.47%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. DZ Bank reissued a "buy" rating on shares of NIKE in a research report on Tuesday, June 30th. Stifel Nicolaus set a $45.00 price objective on shares of NIKE and gave the stock a "hold" rating in a research report on Wednesday, July 1st. Berenberg Bank set a $49.00 price objective on shares of NIKE and gave the stock a "hold" rating in a research note on Friday, July 3rd. Weiss Ratings raised shares of NIKE from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, July 17th. Finally, Telsey Advisory Group set a $47.00 target price on shares of NIKE and gave the company a "market perform" rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $52.94.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Traders purchased 182,729 NKE call options, 59% above typical daily call volume. The activity may reflect increased bullish speculation, although options positioning does not guarantee sustained buying in the shares.
• Positive Sentiment: Grupo SBF extended its exclusive Nike distribution agreement in Brazil through 2034. The longer arrangement provides continued access to an important Latin American market and supports Nike’s regional distribution network. Grupo SBF Extends Exclusive Nike Distribution Deal in Brazil to 2034
• Neutral Sentiment: NIKE said it will release fiscal first-quarter 2027 results on October 1 after the market close, followed by a management conference call. Investors will look for evidence that the company’s turnaround is improving sales, inventory levels and margins. NIKE Announces First Quarter Fiscal 2027 Earnings and Conference Call
• Neutral Sentiment: NIKE appointed Walmart veteran Jane Ewing as chief commercial officer to help lead its comeback. The hire could strengthen execution and retail strategy, but investors are likely to want measurable results before assigning significant value to the turnaround. Nike Taps Walmart Veteran to Help Drive Comeback
• Negative Sentiment: Reports say Nike’s China business continues to shrink as domestic competitors gain market share and the brand struggles to remain locally relevant. China weakness threatens a key source of long-term growth. Why America’s Biggest Brands Keep Losing in China
• Negative Sentiment: Analysts and market commentary continue to cite soft consumer confidence, weaker traffic, excess legacy inventory and doubts about product innovation. These concerns reinforce expectations for a prolonged recovery and have contributed to reduced price targets and bearish sentiment.

NIKE Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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